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Jury Convicts Ex-Doral Treasurer In $4B Fraud

Law360 (April 29, 2010, 7:00 PM EDT) -- A jury has convicted the former treasurer of Puerto Rico-based mortgage lender Doral Financial Corp. for his role in a massive securities fraud scheme that prosecutors say cost shareholders an estimated $4 billion.

After a five-week trial, jurors found Mario S. Levis guilty of one count of securities fraud and two counts of wire fraud in the U.S. District Court for the Southern District of New York, federal prosecutors said Thursday.

Levis faces 20 years in prison and steep fines for the securities fraud conviction and...
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